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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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self employed

I am self emploed.How will be effect my corporation to personal bankrupcy

Posted from: Ontario

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One Response to “self employed”

A licensed trustee said...

If you file for personal bankruptcy, your business is an asset (something that you own) that your trustee will have to deal with. If the business has any value (something that can be sold, including the business itself) your trustee will have to try and obtain that value for your creditors.

There’s a pretty good chance my answer may confuse you – the best thing to do is to use the links on this page and contact a trustee in your area directly about your business.